SEC Form 4 · accession 0001628280-17-000188
OPENLANE, Inc. · OPLN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Todd F Bourell
Director
Period of report
Jan 6, 2017
Accepted (ET)
Jan 10, 2017 · 9:54 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001395942
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Common StockF4,F5,F1,F3 | — | Jan 6, 2017 | A | 41 | A | — | — | Common Stock | 41 | 200 | D |
| Common StockF1,F2,F3 | — | holding | — | — | — | — | — | Common Stock | 5,575 | 5,575 | D |
Explanation of responses
- F1The phantom stock will convert into shares of KAR common stock on a one-for-one basis.
- F2Represents director fees deferred in the reporting person's account in the KAR Auction Services, Inc. Directors Deferred Compensation Plan. Shares of restricted stock were granted on June 8, 2016 at a price of $41.30 per share and will be settled only for shares of KAR common stock on a one-for-one basis. These shares of restricted stock were granted pursuant to the KAR Auction Services, Inc. 2009 Omnibus Stock and Incentive Plan and one-fourth of the grant vests every three months from the date of the grant and such grant is subject to forfeiture until vested.
- F3The reporting person will receive shares of KAR common stock, on a one-for-one basis, at a future date(s) specified by him pursuant to the deferred compensation plan.
- F4Reflects the reinvestment of dividend equivalents in additional shares of phantom stock pursuant to the terms of the KAR Auction Services, Inc. Directors Deferred Compensation Plan.
- F5Reflects dividend payment of which 167.5564 shares are vested and the remaining shares will vest as follows: 16.1701 shares vest on March 7, 2017 and the remaining 16.1702 shares vest on June 7, 2017.